Blockpass wants to be the core platform for the Internet of Things
Guy Davies of the blockchain-based identity-solution Blockpass spoke with Crypto Finder about the company's competitors, funding and the future at Blockchain Week 2018.
Interview from Blockchain Week London on 23 January 2018.
What is Blockpass? Watch part one
Read the transcript:
There's a number of competitors in the field. Everyone's doing a variation on data protection as it were. We're all currently part of a brand new association called identity.foundation, which is basically exploring how this is going to work. This is brand new stuff, you know. It's been around for maybe a year or two, I think. So it's all very new and Blockpass actually came about because we were investigating something else, and we thought hang on, this thing doesn't exist. So that's why we put it together.
And what stage are you at?
We're at the point where we've got some early investment, which has enabled us to grow and develop the product. The product actually goes live on the 31st of March 2018, which enables Blockpass to reveal the app on iOS and Android, and then also bring the, will start to grow the ecosystem, which means that when users come on board, they've got a range of merchants, businesses they can interact with. Whereas before, you know, if you wanted to invest in ten ICOs, that would be ten KYC processes. Sometimes it'd go on for days, so, you know, times that by ten. That's a bit of a, something you don't really want to be doing. So it's at the right time that this solution has come about.
How fast does it work?
Well, once the KYC process, which is the verification process, where we would use an established agency who currently has access to passport details and driving licence details and that's what they actually do. Once that process has happened and you are verified, the user would be on a distributed white list that the merchant is able to look up. If you then go, well I want to work with, I want to invest in that ICO or I want to work with this blockchain business, literally in a matter of seconds.
And where's that funding that you're talking about coming from at the moment?
We're based in Hong Kong and Vietnam. That's where this has come about. So we're currently, our investors are based over there at the moment, so that's basically how we work, how that works, at the moment.
Interview from Blockchain Week London on 23 January 2018.
Read the transcript:
If you're an ICO, you'd be mad not to use Blockpass because right now, the regulator is looking at what you're doing, and if you haven't KYCed your investors, you may be looking at a bit of trouble. On that level, on a user as well, it gives you frictionless access to the blockchain and the ecosystem, which means that you have got really quick access to get in and invest and work with all different companies, so it's a perfect solution at this time.
The road map is, 2018 build and expand the partnership ecosystem. Bring some, obviously, users on board, and then we, the bigger picture for us is around the Internet of Things. So the Chain of Things is a company who is one of the partners. There's two main partners: Infinity Blockchain Labs, which is the biggest blockchain company in Vietnam, and also Chain of Things based in Hong Kong. Chain of Things was specifically looking up Internet of Things and blockchain solutions.
So one of the issues that we solve with Blockpass is how to bring devices on board. The Internet of Things is just about to explode with billions and billions of devices coming on board, and they're very insecure. I mean there's a couple of large attacks that happened last year that people remember, so this enables to secure those devices, speak to those devices, get the reputation of devices on the blockchain and therefore enables devices and humans to start interacting together.
